Tag: Exchange

City of Busan to establish digital assets exchange: Report

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According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets. “Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.” As told by the Busan Digital Asset Exchange Establishment Promotion…

Bitcoin (BTC) Fights To Regain $21,000 Amid Genesis Rumors and Charges Against Little-Known Crypto Exchange

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Bitcoin (BTC) is on the cusp of regaining $21,000 as charges are filed against a little-known crypto exchange platform and rumors swirl around embattled crypto lender Genesis. In a new press release, the U.S. Department of Justice (DOJ) is announcing charges against Hong Kong-based crypto exchange Bitzlato and its founder, Russian national Anatoly Legkodymov. The DOJ alleges that Legkodymov failed to maintain proper regulatory safeguards, including having substandard anti-money laundering practices. As stated by Assistant Attorney General Kenneth A. Polite in the press release, “As alleged, the defendant helped operate…

New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over – Bitcoin News

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Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency trading platform. FTX CEO John J. Ray III Explores Reviving the Fallen Crypto Exchange The new FTX CEO and chief restructuring officer (CRO), John J. Ray III, conducted his first interview since the company filed…

Binance USD Exchange Reserves Dry Up, Behind Bitcoin Drop?

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On-chain data shows the Binance USD (BUSD) exchange reserves have declined recently, a factor that may be behind Bitcoin’s slowdown. Binance USD (BUSD) Exchange Reserves Have Gone Down As pointed out by an analyst in a CryptoQuant post, there was a very large inflow of $250 million BUSD just a while ago. The “exchange reserve” is an indicator that measures the total amount of a cryptocurrency (which, in the present case, is Binance USD) currently being stored on wallets of centralized exchanges. Generally, investors swap their coins for stablecoins like…

FTX CEO says he is exploring rebooting the exchange: Report

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John Ray, who took over as CEO of cryptocurrency exchange FTX prior to bankruptcy proceedings, has reportedly set up a task force to consider restarting FTX.com. According to a Jan. 19 report from the Wall Street Journal, Ray said everything was “on the table” when it came to the future of FTX.com, including a potential path forward with rebooting the exchange. FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for Chapter 11 bankruptcy in November 2022. Ray reportedly was considering reviving…

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner – Exchanges Bitcoin News

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Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France Hit Cryptocurrency Exchange Bitzlato, Russian Co-founder Detained in Miami U.S. authorities have apprehended Anatoly Legkodymov, a resident of China, on charges that his Hong Kong-registered crypto trading platform, Bitzlato, processed illicit funds worth hundreds of…